By William Gullotti
Buffalo, N.Y., Jan. 18 – Zibo High-tech International Investment Co., Ltd. priced $31 million of 7% guaranteed bonds due 2026 at par, according to a listing notice and an offering circular on Wednesday.
The bonds will be guaranteed by parent company Zibo Hi-Tech State-Owned Capital Investment Co., Ltd. and also feature the benefit of an irrevocable standby letter of credit issued by Bank of Qingdao Co. Ltd., Zibo Branch.
Initial Capital Securities, Fosun Hani, China International Capital Corp., Shenwan Hongyuan (H.K.), Haitong Bank and Zhongtai International are the placement agents for the Regulation S offering.
Proceeds will be used for project construction, for replenishing working capital and to repay existing debt.
Listing for the bonds is expected on the Chongwa (Macao) Exchange effective Jan. 18.
The issuer operates investment management associated with urban infrastructure construction, land development and other services.
Issuer: | Zibo High-tech International Investment Co., Ltd.
|
Guarantor: | Zibo Hi-Tech State-Owned Capital Investment Co., Ltd.
|
LoC issuer: | Bank of Qingdao Co. Ltd., Zibo Branch
|
Amount: | $31 million
|
Issue: | Guaranteed bonds
|
Maturity: | Jan. 17, 2026
|
Placement agents: | Initial Capital Securities, Fosun Hani, China International Capital Corp., Shenwan Hongyuan (H.K.), Haitong Bank and Zhongtai International
|
Trustee: | China Construction Bank (Asia) Corp., Ltd.
|
Counsel to agents: | Fangda Partners (Hong Kong), Jingtian & Gongcheng (China)
|
Coupon: | 7%
|
Price: | Par
|
Yield: | 7%
|
Call: | For taxation reasons at par plus interest
|
Change of control: | At par plus interest
|
Pricing date: | Jan. 12
|
Issue date: | Jan. 17
|
Listing date: | Jan. 18
|
Distribution: | Regulation S
|
ISIN: | XS2574741273
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.